Denison Yachting has published its quarterly business report. According to the company, the third quarter of 2022 has been ‘a challenging quarter for the boating sector. Nevertheless, taking pre-pandemic numbers as a baseline, the industry demonstrated remarkable resilience’. Here are the most important parts of the report.
Globally, customers bought 10% fewer boats than they purchased in the third quarter of 2021, a 30% drop from the record sales of the third quarter of 2020. However, overall numbers were just 9% below Q3 2019, indicating that the challenges the market has faced this year have yet to do much damage to demand. Therefore, it is not surprising that the National Marine Manufacturers Association maintains that 2022 is on track to be a very healthy year for the boating industry.
Global Yacht Market Performance in Q3 2022
Following a lackluster Q2, Q3 was a tumultuous quarter for the global boating market. Sales across all the major yacht markets dropped considerably from Q3 2021. North America, the world’s largest boat market, recorded 9.5% lower sales than in the same quarter last year. In Europe, customers bought 11% fewer boats in the usual yachting hotbeds of France, Italy, Spain, and the Netherlands than in Q3 2021.
The numbers were even bleaker in Asia, which saw a 19% drop in purchases from Q3 2021. Customers in China, Japan, and Singapore bought fewer boats in Q3 2022 than in any third quarter since 2015.
The silver lining in all of this is that the industry’s performance was still strong, given the challenges it faced in the third quarter of this year. Despite pressures from inflation, persistent supply chain challenges, and an active 2022 Atlantic Hurricane Season, sales across some key boating destinations, including the U.S. Southeast region, remained on par with pre-pandemic numbers.
Strong Performance of Luxury Yacht Charters in Q3 2022
While new boat sales struggled to maintain the momentum of the last two years, yacht charters continued to boom in Q3 2022. Thanks to the economic uncertainty, many potential customers postponed their purchase decisions, opting instead for short-term rental options. More boat owners also put their vessels up for charter to offset the cost of ownership and earn additional income.
Chartering appeals to customers because it allows them to “test drive” a luxury lifestyle before making a multimillion-dollar purchase. Leading yacht brokers also provide comprehensive itineraries and services, so customers can relax and enjoy their vacation without worrying about logistics.
So far, market reports indicate that luxury yacht charters have increased by 20% in 2022 compared to 2021. Denison expects the number of people chartering yachts to grow in Q4 and beyond, driven by continued interest from first-time charterers and experienced boaters alike.
Bukit Merah, Singapore
What Does Q4 2022 Have in Store for Yachting?
Fortunately, all signs still point to a bright future for the boating industry. For instance, growth in the U.S. Southeast region and solid performance in the center console boat category indicates that the demand for recreational boating is still high.
Furthermore, according to the U.S. Bureau of Economic Analysis, outdoor recreation activities have thrived since the lockdowns eased in 2021. This year, boating and fishing have increased their contribution to the outdoor recreation economy by 22%, indicating sustained interest in water-based activities from 2021.
Going into the fourth quarter of the year, Denison expects performance to mirror pre-pandemic levels for another quarter. Considering the challenges the industry has faced this year, being able to sustain pre-pandemic numbers gives us hope for more robust performance in 2023 and beyond.
Denison has long been a leader in the yachting industry with a rich family history dating back to 1948, and the start of Broward Marine in Fort Lauderdale. Today, the company provides complete yachting services worldwide, including superyacht sales, yacht charter, crew placement, and new construction. Denison operates out of 21 waterfront offices in the United States, and one location in Monaco with a team of 100+ licensed and bonded yacht brokers.
Credits: Denison Yachting; Unsplash
Sanlorenzo has introduced its largest crossover yacht to date, the 36.5-meter SX120, featuring the first marine implementation of Volvo Penta's IPS Professional Platform. The yacht will debut at the Cannes Yachting Festival from September 9-14, 2025.The SX120 represents a technical evolution in the Italian builder's crossover range, combining elements of flybridge and explorer yachts. Its key innovation is the IPS Professional propulsion system, utilizing four compact 1,000 HP engines in twin-pod configuration. This setup reduces engine room space by 30% compared to conventional systems while improving fuel efficiency through Volvo Penta's Eco Mode automation and Selective Catalytic Reduction emissions treatment.Designed by Zuccon International Project with interiors by Piero Lissoni, the 270 GT yacht features a 70 sqm transformable beach club with retractable swimming pool and opening side terraces. The four-deck layout includes: lower deck with four convertible guest cabins, crew quarters, and hammam, full-beam master suite with private bow patio, dining area for 14 located at the main deck, and 360-degree lounge convertible to media/play room at the upper deck. "The IPS Professional Platform allows unique design solutions for large yachts by reclaiming space typically dedicated to propulsion," said Sanlorenzo CEO Tommaso Vincenzi. The system enables a 15% reduction in fuel consumption at cruising speeds of 12 knots, with noise levels reduced by 7dB compared to traditional shaftline configurations.Construction utilizes advanced composites with carbon fiber reinforcement in high-load areas. The first hull features Lissoni's signature interior design with steel-clad central staircase, backlit master suite headboard, and ceramic marble-effect bathroom surfaces.Two additional SX120 units are currently in production, with delivery slots available from 2027. Pricing remains undisclosed, though industry analysts estimate base configuration costs exceeding €25 million. The model expands Sanlorenzo's SX line that began with the SX76 in 2017 and now represents 28% of the builder's order book.Volvo Penta Marine Sales VP Nicola Pomi noted: "The hydrodynamically optimized counter-rotating propellers reduce energy losses by 18% while improving low-speed maneuverability." The propulsion package includes integrated hybrid readiness for future battery retrofits.With 40% more exterior space than conventional motoryachts in its class, the SX120 offers 215 sqm of deck areas including a 45 sqm sun deck. Storage capacity accommodates a 5.5-meter tender and water toys in the garage.Sanlorenzo reports strong interest in the model from European and Asian markets, with the first unit destined for Mediterranean cruising. The builder currently has 17 yachts under construction across its SX, SP, and SD lines at its Ameglia and La Spezia facilities.Sanlorenzo was founded in 1958 in Viareggio by yacht builder Gionvanni Jannetti. In 2005, Massimo Perrotti became the majority shareholder in the shipyard. Sanlorenzo builds yachts ranging from 28.60 to 73 meters in length. Credits: Sanlorenzo
July 9, 2025
Silent Yachts has launched its new 24.38-meter SY80 solar-electric catamaran, scheduled for world premiere at the Cannes Yachting Festival (September 9-14, 2025). The first unit, a sold 2-Deck configuration, features four guest cabins including master and VIP suites.The SY80 offers three layout options (2-Deck, 3-Deck Open, 3-Deck Closed) with customizable deck arrangements. The inaugural model includes a 360-degree helm station, panoramic saloon, and storage for water toys in a concealed garage. Performance specifications include a 12-knot top speed, 7-8 knot cruising speed, and solar array capacity of 22.4 kWp with 522-696 kWh battery options.Two additional 3-Deck versions have been sold. No pricing was disclosed. The Italian-built catamaran expands Silent Yachts' solar-powered range, following previous models like the SY60.Silent-Yachts is producing the world’s first fully solar-sustainable oceangoing production catamaran yachts. They are powered exclusively by solar energy and capable of cruising up to 100 miles per day. In 2009, founders Heike and Michael Köhler, who have spent 6,000 days cruising more than 75,000 miles all around the world, launched the Solarwave 46, the first fully self-sufficient blue-water catamaran after years of testing solar-powered propulsion, and they have been building boats ever since. Credits: Silent-Yachts
July 9, 2025
Nominations are now open for the sixth edition of the Design Innovation Award, recognizing international excellence in marine design and innovation. The award ceremony will take place on September 19, 2025, at Palazzo Ducale during the 65th Genoa International Boat Show (September 18-23).Automotive designer Walter De Silva, recipient of the Compasso d'Oro and former head of Volkswagen Group Design, will chair the jury. "This award highlights how innovation and design quality merge with sustainability and beauty," De Silva commented.Organized by the Italian Marine Industry Association and the Genoa Boat Show, the competition has grown from 40 submissions in 2020 to over 90 entries in recent editions. The award evaluates projects based on technological advancement, sustainability, and design quality.All exhibitors at the 2025 Genoa Boat Show are eligible to participate. No submission deadline has been specified.Credits: Genoa Boat Show
July 9, 2025
Bilgin Yachts has revealed interior details of the 49.9-meter Camila, the second hull in its Bilgin 163 series, delivered in May 2024. The yacht was sold in 2023 to a U.S. client through FGI Yacht Group and Bilgin's commercial director Berkay Yılmaz.Unique Yacht Design developed the exterior, featuring extended deck spaces including a 21-meter sundeck and 12-meter bridge deck aft. Italian studio Hot Lab created the interior design, employing champagne, cream and pearl grey tones with wood, metal accents and Italian fabrics."The clean architectural volumes feature soft transitions between materials," said Hot Lab's Enrico Lumini. Notable elements include a full-height glass lobby partition, floating staircase, and sundeck skylight. The six-cabin layout includes a large beach club, with Bilgin claiming 20% more volume than comparable 48-meter yachts."Camila combines distinctive elegance with sportive exterior lines," said Yılmaz, noting the owner's active participation in the design process. No performance specifications or pricing details were disclosed. The first Bilgin 163 hull, Eternal Spark, was delivered in 2022.Bilgin Yachts is a boutique shipyard on the European side of Istanbul, building 50 to 120m luxury superyachts. It has been a family-run business for five generations since the early 1900s.Credits: Bilgin Yachts
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VisionF Yachts has announced the near-completion of its new 14-meter Superfast 46 performance boat, capable of reaching 80 knots. The model will make its global debut at the Cannes Yachting Festival 2025 (September 9-14), with the first unit launching in coming weeks.The carbon fiber composite vessel features twin Mercury 450 HP Racing Sportmaster engines with Mercury's Active Trim system and Racing Revolution X propulsion. Its 3.7-meter beam and 0.47-meter draft combine with hydraulic steering and optional joystick controls for high-speed maneuverability.Technical specifications include 600-liter fuel capacity for approximately two hours of operation at maximum speed, Garmin 19" navigation displays, and a Fusion Apollo sound system. Safety systems comprise three bilge pumps and dual fire extinguishers.The Superfast 46 represents a new direction for VisionF, known primarily for luxury catamarans like its electric E-Cat series and aluminum models up to 47 meters. No pricing or delivery timelines beyond the Cannes presentation were disclosed. VisionF Yachts in Turkey was set up by Coşkun Bayraktar in Istanbul in 2019, but despite the shipyard’s relative youth it is a brand that is going places in the power catamaran world. In November 2020, VisionF Yachts debuted its first vessel, the VisionF 80. Credits: VisionF Yachts
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